Forum Replies Created
aafreen
Try the site below for trends , I am not too sure of how accurate & up to date the data is.
If someone else has some info regarding this site it would be appreciated. [smiling]resiwealth
You have seen an opportunity & have taken action which I think is the hardest thing to do .
I hope everything goes well with your projects & thanks for your thoughts , you realy helped put some things in prospective.What is the name of your book & what is it about??
resiwealth
All very good points.
In your opinion what will influence CG , will it be the demand or would you expect it to be in line with CG in the area ???The returns sound good & as you pointed out the cash required is less than a residential property which will make it easier when starting out your investing journey.
resiwealth
My concern is that I may think they are a great investment but if most people think they are not , the demand will be low & if I need to sell there may be a problem.
On the other hand you may be on a big winner with your development.
I haven’t done enough research to make a decision either way yet but I am working on it.Richmond
I did a search but couldn’t find much , only some reference to the books.My understanding of Margaret Loams strategy is to find a property which was built after 1985 ( I think ) which the government will allow you to depreciate ( On paper deduction ) . The property will be -ve geared , using the On paper deductions some more tax will be saved & utilised to reduce the mortgage & increase equity.
This strategy keeps you tied to a job but it’s a start !!!
murph38
I am not sure how long you need to have lived in your ppor before you are except from CGT but I have just found out that as long as you meet the requirements you have a six month period starting from the time you move out to sell & you will not attract CGT .
I would suggest getting some professional advice to confirm the information you are seeking is correct before you take any action.
Good luck…..Bonnie
I have come to the decision that I will be proactive on things that I want done , which is different from being annoying. It is in your best interest to Manage your Investment.
Can I suggest you keep in contact with your PM , ask for suggestion on how you can improve the chances of renting , ask if your idea of looking for tenants is a good one
( PM may not like this ) but it is your investment !!!!!!!!!!!!!!I have asked questions like
How do you screen a tenant
What is your view on pets
What type of tenant will my property attract
Asking questions also helps you learn what to look for next time…Once you get to know the PM you can then form an opinion eg has done a good / bad job and make appropriate decisions in the future.
Good luckI have also found that with most things the squeaky wheel gets the attention.
For the first 2 weeks I left things up to the PM as it’s their job & there was no interest.
That’s when I started making phone calls ,
are we there yet , are we there , yet are we there yet !!!!! It was done with discretion.
All of a sudden there was some interest then bingo.
I also found that the more I communicated with my PM the better the rapport which is a good thing for all. [thumbsupanim]Precise Realty
Listing an IP with more than one agent is a good idea but I found as part of their standard paperwork the agents want you to agree to be listed exclusively with them for a set time.I don’t see why you can’t ask the agent to change the agreement so that you can list with more than one agent.
You just need to decide on your strategy before you start ( Planning )it always helps…Bonnie
When I was looking for a PM to my IP they would give me varied answers to the question ( How long will it take to find a tenant ) ??????[confused2]
The PM I selected was very thorough & helpful.
The answer she gave me was 5 to 6 weeks which I think is realistic. It took 4.5 weeks to find someone.
Things can vary , it depends on what type of IP you have & the market.
What I am finding with Property is that things move slowly eg they don’t happen over night so don’t panic if things don’t happen for you instantly.If you persist you will find someone , good luck. [thumbsupanim]Jet29
I had a depreciation schedule done by depreciator a month ago & found everyone extremely helpful.
The most important thing for me was that the process was hassle quick & free.
I highly recommend getting in contact with Scotthttp://www.depreciator.com.au [thumbsupanim]
Originally posted by bruham:Domo,
You must have been up all night doing your research on that list. Well done.
You impressed me so much, that I down loaded a copy for myself.
Thankyou.bruham.[withstupid]
burham
I can’t take the credit for the list , I compiled it from postes on a number of forums. It is a little bit of information overflow but there is some usefull information available.Jamie
I have been searching for similar information
The links below were in some of the posted in the forum , I haven’t checked out each site but hopefully this is a starting point.Midwood Report – http://www.midwoodaustralia.com
Matusik Property Insight – http://www.matusik.com.auReal Estate Institue of Australia – http://www.reiaustralia.com.au
Real Estate Institue of WA – http://www.reiwa.com.au
Real Estate Institue of SA – http://www.reisa.com.au
Real Estate Institue of NSW – http://www.reinsw.com.au
Real Estate Institue of Victoria – http://www.reiv.com.au
Real Estate Institue of Tasmania – http://www.reit.com.au
Real Estate Institue of QLD – http://www.reiq.com.auAustalian Business Resarch – http://www.abr.com.au
Australian Bureau of Statistics – http://www.abs.gov.au
Australian Moving Directory – http://www.australiamovingdirectory.com
Australian Property Institute – http://www.propertyinstitute.com.auConsole – http://www.console.com.au
Deposit Power – http://www.depositpower.com.au
Dept. of State Development, Small Business – http://www.smallbusiness.qld.gov.au
Small Business – http://www.smallbusiness.qld.gov.au
National Association of Realtors – http://www.nar.realtor.com
National Tenancy Database – http://www.ntd.net.auOffice of Fair Trading – http://www.fairtrading.qld.gov.au
Office of the Parlimentary Counsel – http://www.legislation.qld.gov.auProperty Sales Association of QLD – http://www.psaq.org.au
QLD law society – http://www.qls.com.au
Realty Times – http://www.agentnews.com (American)
REI super – http://www.reisuper.com.au
Rent Pay – http://www.rentpay.com.au
RP data – http://www.rpdata.com.au
Residential Tenancies Authority – http://www.rta.qld.gov.au
The Property Council of Australia – http://www.propertyoz.com.au
Tenancy Information Centre of Australia – http://www.tica.com.au
Tenants Union of QLD – http://www.powerup.com.au/~tenunq
Aust Securities and Investment Com – http://www.asc.gov.au
Commonwealth Treasury – http://www.treasury.gov.au
Foreign Investment Review Board – http://www.firb.gov.au
Urban Development Insititute – http://www.udia.com.au
Aust Housing Research Institute – http://www.ahun.edu.au
Housing Industry Assoc – http://www.buildingonline.com.au
Australian Tax Office – http://www.ato.gov.au
Australian Investors Assn – http://www.investors.asn.au
Construction Research of Aust – http://www.conres.com.au
Master Builders Assoc of Aust – http://www.masterbuilders.com.au
Onsite Direct (Authors business) – http://www.onsitedirect.net
The author – http://www.barrypickering.com.auFlanno40
I have been advised to create a Trust & have all the assets in the Trust’s name.
Do a search in the forum & you will get some more information.
To find out how it will really affect you consult an accountant with the appropriate experience.
I hope that helps ????greenjoy
I highly recommend the Depreciator.
I recently had a depreciation schedule prepared & everyone was great to deal with .
Scott was especially helpful & answered any questions I had very quickly.What was important for me was that the whole process was painless which let me concentrate my efforts on looking for a PM & deciding which insurance company I would use.
Thanks again Scott [thumbsupanim]
Asiababy
I Decided to go with Terri Scheer as they seem to offer a little bit more that the others that I looked into . I must say all the policies were similar.
In the policy if children or pets break something it is not covered but I spoke to someone who advised me that what usually happens is it can be claimed as an accident which is covered ????The other thing I found out about building insurance some policies only cover the building if you are living in it so it’s a good idea to check.
Good Luck !!Originally posted by investron:Bad points
Most lenders only lend 65%of value on commercial + industrial
and you may have trouble getting cheaper residential loans with commercial mortgages.
if things go bad, you can always drop the rent 10 or 20 dollars to get another tenant, but that same amount of drop in commercial, makes no difference.
people have to live somewhere, they don’t have to have a business.Investron
Thanks for the info I am always learning something .One strategy could be to purchase a number of residential IP’s , lets say 10 .
Assuming all went well you could sell 5 IP’s & purchase 1 commercial IP which will diversify your portfolio plus the administration overheads will be reduced.It all sounds ok until someone points out the cons which is a fantastic help….[specool]
Simon
Thanks I will look into it … [specool]Originally posted by MortgageHunter:I agree qwerty [biggrin]
Domo which bank is it?
Cheers,
Simon Macks
Mortgage BrokerIt’s Westpac , they have been ok so far.
My lack of knowledge also led me to dealing directly with the banks as in the old saying
” Safe as houses “.
But times have changed & there are allot of different ways to finance an IP !!!qwerty
Thanks for the tip , it’s info like this that can help make a good decision .
If you don’t deal with banks all the time you don’t know the in’s & out’s & any help is appreciated.
[specool]
